Launchpad
We have created the Next Earth Launchpad (available on launchpad.nextearth.io) for startups that wish to launch their own tokens within the Next Earth economy. In Chapter 3 of this document we dive into how that can happen, but as a standalone feature of Next Earth, the Launchpad offers an integrated opportunity to promote and launch new tokens to Next Earth citizens.
Token Locking on the Launchpad
Token Locking is essentially a form of pre-staking that allows users to lay claim to a Launchpad project in the meantime before our staking feature is fully operational.
Similar to staking, locking is handled by a smart contract, where users can lock up some of their NXTT tokens to show engagement for a certain project and - in our case - to participate in Launchpad projects.
While locking itself does not yield profits, it will allow users to seamlessly transition to profit-producing staking in the near future.
Users can set up locking from the Launchpad page and can only have it set for a fixed lockup period. Users cannot access locked up tokens until the end of the lockup period.
Once the lockup period is over, the user can retrieve their tokens via a smart contract action. Tokens will remain locked until the user retrieves them.
Lockup period is exactly 168 hours (7 days). Maximum amount of lockup is 10 000 000 NXTT. Additional lockups restart the lockup period.
KYC for multiple projects
KYC must be performed in the context of each project's company (or owner of the token, referred as Partner from now) and each buyer (user). Therefore, this must be done separately for every single project as some decisions (such as manual verification or denial of users) must be done by the Partner for legal reasons. As a result, users may have multiple states in different IDOs separately from each other. Before starting the KYC, the user needs to accept the:
Privacy Policy of Next Earth Launchpad
Privacy Policy of the Project
The Partner needs access to the service dashboard too to be able to make decisions and see user data.
BlockPass provides separate Services for Next Earth Launchpad and provides one service per project. All of them need to set up as Enterprise level Managed Services.
Removal of Profile Level KYC
The KYC section in the Next Earth Profile will be completely removed once the user starts the KYC flow from the project page.
The user data in that Service will then be available only on the BlockPass console dashboard in the future because of legal regulations. Said user data does NOT need to be synced anymore and will NOT be made available to Next Earth.
Manual reviews
Manual reviewer work can be shared among projects via the BlockPass board. From the legal side, Next Earth are data processors, as our contracted staff also counts as data processor partners. PEP and AML handling are done manually, so they will work the same for multiple projects.
Joining the Launchpad
A user can join a project's presale if they meet the following conditions:
The user has a KYC in the context of the project is tagged as one of the following:
WaitingForReview (auto processed, waiting for batch process)
InReview (waiting for batch or needs manual processing)
Verified
They are between opening time and closing time for the desired project and tier.
The user has any tokens left in a currently open tier.
The user has accepted the Launchpad Privacy Policy and Terms and Conditions.
The user has accepted the Project's Policy and Terms and Conditions.
Allocation method
Presale / IDO method basically follows the reverse dutch auction format which is quite popular in crypto launchpads. There is a limited number of tokens and the number of tokens sold each day is equally divided among the duration of the ICO.
So, for instance, if the ICO lasted for five days, 20% of the total token amount would be sold each day. This controls the distribution of tokens if there is significant demand for the ICO.
Token volume is allocated equally between the 5 tiers in one pool. Tiers open from 1 to 5, based on opening times. There's always one tier open at a time. Users can either buy on Price or buy the max purchase limit of their given tier.
Payments
Users can make an unlimited number of purchases so long as the remain within their token purchase limit. Because of anti-money-laundering and PEP regulations, users can only make payments with the wallet linked to their BlockPass profile.
Users can make payments using NXTT or USDC (one at a time). NXTT conversion rate is fixed by the project in USDC.
For example, let's say a Tier3 user joins in the presale of a project that has 10M of tokens, divided into 2M for each tier. The token purchase limit is 100 kUSDC for every single tier and the NXTT conversion is fixed on 0.1 USDC / NXTT.
So then the user spends the max. possible 100 kUSDC when Tier3 opens, then spends an additional 850k NXTT tokens when Tier4 opens. Later on, the user spends an additional 5k USDC in a new transaction. This is 90% of the limit in Tier4, but the user decides to stop buying more and spends nothing in Tier5.
Claiming
The vesting and claiming mechanism is based on the claiming method of the NXTT project:
The user needs to perform a claim operation in the project's claim period at least once.
The user can only claim with the wallet address verified in the KYC process and used for payment in the presale period.
Only the non-vested token amount can be claimed.
Only users with the Verified KYC state can perform a claim operation.
If the user misses the first (which can be also the last) claiming operation in a claiming period or cannot perform the operation because of missing KYC verification, the user must contact customer support. Customer support will then send back the appropriate USDC amount manually.
Unclaimed Token Pool
Unclaimed tokens will be airdropped manually onto users who claimed tokens already.
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